Natalie White Leads Bonhams $677,000 'Photographs Now: The Collector's Edition' Auction

A work by Natalie White was the headline sale at Bonhams 'Photographs Now: The Collector's Edition' auction on July 17.

• The sale totaled $677,000, meeting the pre-sale estimate.

Snapshot of the sale

• 191 works sold totaling $677,000.
• Estimates totaled: $653,200 (low) and $971,300 (high), excluding premiums.
• The sell-through rate was 72% of the original 265 lots announced.

The star lot was: Natalie White, Entangled Particles in One Region of Space (2015), which sold for $46,100, 1052% above its $4,000 low estimate.

The outperformer sold for 1116% above its low estimate. Edward Steichen, Road Into the Valley - Moonrise (from the Steichen Special Edition of 'Camera Work') (1906), sold for $12,200 ($1,000 low estimate). It has been traded twice in the past.

• 48 works, or 25%, sold above their high estimate.
• 82 works, or 43%, sold within their low and high estimate.
• 61 works, or 32%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

73 works were bought-in, including: Lynn Davis, Iceberg VIII, Disko Bay, Greenland (2004), estimated at $8,000 (low) to $12,000 (high). It has been traded once in the past.

Withdrawn before the sale

1 work was withdrawn before the sale: Harold Edgerton, Bird Taking Off (1960) estimated at $800 (low) to $1,200 (high).

Terms and definitions

All results include the fees and premiums added to the price of a work of art when the auctioneer's hammer falls. Sale prices are compared to the auction house’s low estimate, which do not include premiums.

Guarantees: Sometimes an auction house guarantees to pay a seller for a work, regardless of whether the bidding reaches the reserve price, a figure that is typically confidential.

Bought-in: If there are no bids for a work, or if bidding falls short of the reserve price, the lot is unsold or “bought-in”.

Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.

Premiums: Typically a sliding-scale of charges paid in addition to the hammer price by the buyer, plus any other fees.